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Economists to government: Review financial model for 1D1F

The director of research at the Institute of Economic Affairs Dr John Kwakye wants the government to review the 1D1F policy to ensure value for money

Dr John Kwakye, the director of research at the Institute of Economic Affairs (IEA) has suggested to the government to review the financial model for its flagship One District, One Factory (1D1F) programme.

His suggestion comes on the back of recent call for the government to review its major flagship policies to ensure value for money to the taxpayer.

“I still think that we need to review the financial model of the 1D1F, as to whether we are allocating enough resources towards it, and if we are, then why is it not meeting expectation?” Kwakye said on The Asaase Breakfast Show on Friday (8 April).

“There is a misallocation of our expenditure and it is something that needs to be reformed. We should be more interested in the more underlying fundamentals of the economy because it is what bleeds into and determines the strength of the economy,” he told Kwaku Nhyira-Addo.

Dr John Kwakye, the director of research at the Institute of Economic Affairs (IEA)
Dr John Kwakye, the director of research at the Institute of Economic Affairs (IEA)

Weak industrial base

He added: “We import almost everything we consume and this is because of our weak industrial base and I had expected the Veep to talk about transforming the economy to a self sufficient one.”

Speaking on the same programme, Patrick Asuming, an economist with the University of Ghana Business School(UGBS) said the country risked losing money if policies such as 1D1F is not reviewed.

“Some programmes like Planting for Food and Jobs together with 1D1F are excellent programmes but they need revision in their execution lest we continue to lose money,” he said.

Watch the full interview below:

Fred Dzakpata

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